I have own a certain stock for a while. This stock has cuts it dividend a few times since I became an owner. This company is Just Energy (ticker Symbol JE) , which trades on both the TSX in Toronto and the NYSE.
Just Energy is a Canadian Energy Management solutions provider involved in electricity, natural gas, solar and green energy. A part of their business is providing customers with long term fix pricing.
I have dripped this stock inside my brokerage account for a while acquiring more "whole" shares. I acquired 152 shares alone though dripping of this stock. I sold all my shares of JE on Oct 2, via a market order, for a total of $6476.45.
The stock was above my cost basis. So why did I sell? Just Energy used to be an income trust and then changed to a corporation. JE has a high dividend payout ratio which is sometimes over 100% and company did not grow very much. This company has many negative earnings reports over the past several quarters. The run up in the stock is possible due to a private holding company is buying up a lot of shares.
Initial Cost (Adjusted Cost Base ) including commissions = $5997.31
Proceeds of Sale including commisions = $6476.45
Profit = $479.14
I sold to lock in profits.
My adjusted cost basis was approximately $7.88 per share. I wanted to sleep well at night so holding 761 shares was too big of a position and having too high of an ACB made it an easy decision to sell. If I plan to own this stock in the future it will not be a big position.
am not a financial planner, financial advisor, accountant or tax
attorney. The information on this blog represents my own thoughts and
opinions and should NOT be taken as investment or business advice.
individual should do their due diligence to make their own financial
decisions based on their financial situation and tolerance for risk.